- Launch of Vikki Digital Bank: HD Bank, a Vietnamese commercial bank, has launched Vikki Digital Bank through a joint venture with Galaxy FinX Joint Stock Company.
- Development and Launch Timeline: Vikki Digital Bank was initially launched privately on December 15, 2022, and officially launched in Vietnam on July 31, 2023.
- Current Performance: The digital bank claims to process over $15 million in monthly transactions, serving more than 15,000 active users.
- Services Offered: Vikki Digital Bank provides services such as current accounts, virtual debit cards, e-KYC verification, money transfer services, and spend management features.
- Technology Partnership: The bank’s services are powered by Thought Machine’s Vault Core, a cloud-native banking platform that HD Bank has been working with since a deal signed in February 2022.
- Platform Capabilities: Thought Machine’s Vault Core allows for flexible and controlled design and development of financial products using smart contracts.
- HD Bank’s Transformation Strategy: The bank is utilizing its partnership with Thought Machine to upgrade its core platforms and internal workflows as part of a multi-year digital transformation strategy.
- Market Demand: HD Bank identified a market need for real-time, always-on financial services, and aims to address this gap through its digital banking innovation with Vikki.
